NORTH BETHESDA, Md., June 2 — ESAB Corporation (“ESAB” or the “Company”) (NYSE: ESAB), a focused premier industrial compounder, announced today it has completed its acquisition of Eddyfi Technologies (“Eddyfi”), a global leader in advanced inspection and monitoring technologies.
The addition of Eddyfi’s best-in-class instrumentation and monitoring technology builds on ESAB’s market leading end-to-end workflow solution and accelerates ESAB’s compounder journey.
“We are thrilled to welcome the Eddyfi team to ESAB,” said Shyam Kambeyanda, President and CEO of ESAB. “This acquisition marks an important milestone in our intentional strategy to extend into the inspection and monitoring space, a mission-critical market where we see an impressive long-term runway for compounding growth at attractive margins.”
Kambeyanda continued, “By combining Eddyfi’s technology leadership with our global scale, ESAB becomes an unrivaled provider of complete workflow solutions spanning fabrication, inspection, and monitoring. Eddyfi strengthens our portfolio, accelerates ESAB’s journey toward a business that is faster growing, higher margin, and less cyclical, and reinforces our position as the partner of choice for customers where quality, productivity, and asset integrity are non-negotiable.”
“Beyond the strategic fit, the Eddyfi team has their culture grounded in technology leadership, a strong growth mindset, and an entrepreneurial spirit. Their values align with ESAB’s culture and the way we build businesses. We place strong emphasis on a winning mentality, and we firmly believe that long-term success comes from building, investing in, and supporting teams over time. I’m confident this shared philosophy will enable Eddyfi to thrive and unlock extraordinary long-term value for our shareholders,” Kambeyanda concluded.
“Joining ESAB marks the beginning of a new chapter for Eddyfi, one that allows us to accelerate what we do best: innovating and solving critical challenges for our customers. With ESAB’s global reach and resources, we will move faster, expand our impact, and continue delivering the advanced inspection and monitoring solutions our customers rely on every day. Just as importantly, our teams, our technologies, and our commitment to our customers remain unchanged. We are building from a position of strength, with even greater opportunity ahead,” said Jeff Anderson, President, Eddyfi Technologies.
ESAB’s second quarter results will include one month of Eddyfi’s financial results, which was not reflected in ESAB’s outlook provided on May 7. ESAB will provide updated full year guidance including the impact of Eddyfi on our second quarter earnings call. “We are excited about the impact that Eddyfi will have on our business and look forward to updating you more fully on our second quarter earnings call,” said Kambeyanda.